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  • Charge Reconciliation – Closing the Charge Capture Loop
    By: David Fletcher, President Charge reconciliation is an important process within a healthcare organization’s revenue cycle.  To ensure consistent, timely and accurate charge capture and resolution of pending charges, each department must have staff responsible for completing charge reconciliation daily. This charge reconciliation process at most organizations often involves generating reports and reviewing clinical documentation for each patient to verify accurate charging has o...
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  • The Integrity of a Chargeable Form...Starts with the Build
    The Integrity of a Chargeable Form...Starts with the Build. Are you recognizing 100 percent of your expected charges produced by activity on clinical forms? Do you trust the integrity and internal consistency of your clinical forms to properly accommodate your organization’s workflow to produce and recognize all charges? This may be a difficult question to answer if you do not have visibility or a way to measure this type of data. Forms can be built in many ways, making the process ...
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  • Managing Payors, Contracts, and Reimbursement in a Changing Healthcare Landscape
    It is well known that receiving appropriate reimbursement for healthcare services is fraught with complexities and challenges for hospital organizations. The current pandemic has wreaked further complications across the industry due to volatile patient volumes, canceled elective procedures, and at times, surging ICU counts. The healthcare industry has been forced into a state of upheaval and hospitals, insurers and government payors have all introduced patchworks of rule changes to address the c...
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  • Why Getting Credit for your Work is Now More Important than Ever
    Why Getting Credit for your Work is Now More Important than Ever By: Jesse Hodes, Vice President of Sales The Covid-19 outbreak has put many businesses across the U.S. at severe financial risk. In the healthcare space alone, hospitals are losing an estimated $50 billion a month, according to the American Hospital Association, with most hospitals reporting seeing between 40 to 70 percent fewer patients from late March to early May. These staggering losses have many healthcare leaders questi...
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  • A Simple Billing System Becomes a Juggernaut
    A Simple Billing System Becomes a Juggernaut By: Chris Lanaman, Executive Director of Professional Services When healthcare organizations are adopting a new patient accounting system, they can feel that their simple system has become a “huge overwhelming institution” sending panic into the most stable of hearts within the business office. A juggernaut is defined as “a large overwhelming force or institution that implies great complexity.” For a business office, ...
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  • Softek Free Training Opportunities
    From Training Wheels to Freewheeling I was six years old when I got a shiny pink bike for Christmas -- with training wheels. I rode my bike around our driveway for hours each day. After a few weeks, my father told me he was taking off the training wheels. I felt both excited and terrified. With training wheels, I had learned how to pedal and use the break, both of which are useless without balance. Forty-five minutes, three scrapes, and four bruises later, I rode a bike solo for the first tim...
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  • Softek Receives KLAS Category Leader Award
    Softek Receives KLAS Category Leader Award By: David Fletcher, President Back in February, KLAS® Research Firm released its 2020 Best in KLAS Software and Services Report and Softek was excited to be rated as the Category Leader for Revenue Cycle Optimization. According to the report, Softek was the only fully rated company specializing in Revenue Cycle Optimization consulting to receive an A+ (>97) grade. Hospital clients gave Softek an overall score of 98.3[i], The 98.3 ove...
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  • Could obsolete drugs be causing your claims denials?
    A strange chain of events showed me how different departments view information. I was recently working with a client and showing them issues they had in their build of Millennium™ PharmNet application. These are some of the normal things reviewed: QCF issues – when converting doses based on the units of measure outlined by CMS, you need to use the Quantity Calculation Factor to convert to the correct measurements (e.g. 1 mg per 1 ml = 1 QCF). HCPCS inconsistencies ...
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  • Softek Brings Visibility to Cerner® Revenue Cycle
    Softek Brings Visibility to Cerner® Revenue Cycle By: David Fletcher, President Back in September, KLAS® Research Firm released its 2019 Consulting for Cerner Software report and we couldn’t be more pleased with our ratings for Cerner® IT Advisory Services. According to the report, all Softek clients surveyed* are “highly satisfied with the firm’s delivery, praising their custom built revenue cycle tool for creating reports that provide needed visibility a...
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  • Are your clinical leaders involved in the financial processes of your organization?
    Are your clinical leaders involved in the financial processes of your organization? Did you know organizations with disconnected clinical and finance teams can result in thousands or even millions of dollars in missing charges?
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